TMM Guanajuato Joins Fleet
TMM Lines has taken delivery of the 3,200teu TMM Guanajuato. It was built by China Shipbuilding Corporation in Kaohsiung, Taiwan.The TMM Guanajuato is a sister ship of the TMM Colima which was delivered to the line in October. A third sister ship, the TMM Yucatan, is due for delivery in January 2003.The new ships are all part of the TMM Lines strategy to constantly upgrade its equipment, especially its container and ship fleets. "These new ships are larger, faster and even more efficient and reliable," says Juan Manuel Gonzalez, Senior Vice President. "We have also expanded our routes and upgraded other services, especially those available through the website."The TMM Guanajuato will begin operations on the Mexico-Asia Express service…
TMM: Financial House In Order
Mexico's Transportacion Maritima Mexicana SA said it is in a solid financial position and would have no problem paying off $142 million in senior unsecured notes due Oct. 16. Responding to a downgrade in its local and foreign currency corporate debt and unsecured senior debt to B plus from BB minus by Standard & Poor's, TMM said it could reassure debt holders and stock holders it would continue to post improved cash flow. "We have full confidence that we can comply with all our commitments," TMM President Jose Serrano said in a statement. TMM said it believed S&P's had not taken into account $86.3 million it recently received from asset sales and the securitization of its assets.
Six New Ships on TMM Lines’ Transpacific Service
The deployment of the 4,050teu Aguascalientes on the Mexico-Asia Premier service completes TMM's newbuild program on the transpacific. The ship, on long-term charter, joins the TMM Monterrey and four other sister ships on the weekly Mexico-Asia Premier service. It is the last of the series of newbuilds, both owned and chartered, which we have taken delivery of in the last 18 months. The 3,200 teu TMM Yucatan, TMM Colima and TMM Guanajuato, all owned ships, were built at the China Shipbuilding Corp in Kaohsiung, and are now deployed on the Gulf-Mexico-Americas service, also operating weekly. Senior Vice President Juan Manuel Gonzalez says the new ships are an integral part of our plans to improve services. The ships are named after Mexican states, reflecting the birthplace of TMM Lines.
Canadian Pacific to Acquire TMM's Shareholding in Americana Ships
Canadian Pacific Limited has agreed to acquire the outstanding 50% of the Americana Ships joint venture from its partner, Transportacion Maritima Mexicana SA de CV of Mexico. CP Ships and TMM formed Americana Ships in January 1999 as an equal partnership. TMM has now decided to narrow its strategic focus to concentrate on its other activities. Completion of the transaction, which is subject to regulatory approval, is expected early in the new year. It will confer full ownership of the container shipping services operated under the Lykes Lines, TMM Lines and TMG brands to Canadian Pacific's container shipping subsidiary, CP Ships. The transaction also includes the 27,000 teu container fleet owned by TMM and used by Americana Ships.
Canadian Pacific To Acquire TMM's Shareholding In Americana Ships
Canadian Pacific Limited has agreed to acquire the outstanding 50 percent of the Americana Ships joint venture from its partner, Transportacion Maritima Mexicana SA de CV of Mexico. CP Ships and TMM formed Americana Ships in January 1999 as an equal partnership. TMM has now decided to narrow its strategic focus to concentrate on its other activities. Completion of the transaction, which is subject to regulatory approval, is expected early in the new year. It will confer full ownership of the container shipping services operated under the Lykes Lines, TMM Lines and TMG brands to Canadian Pacific's container shipping subsidiary, CP Ships. The transaction also includes the 27,000 teu container fleet owned by TMM and used by Americana Ships.
TMM Appoints Hesco As Japan Agent
Shipping company TMM Lines appointed Hesco Agencies Ltd. as its new shipping agent in Japan in a move to strengthen operations with the Asian region. As of August 10, Hesco will replace Nippon Maritime Co., TMM's previous shipping agency in Japan. TMM Lines and two other shipping lines were partially owned by Mexico's Transportacion Maritima Mexicana but were sold to its partner Canadian Pacific Ltd. in the year's first quarter. Hesco is a wholly owned subsidiary of the Ben Lines Group.
Grupo TMM Reports 4Q and 2007 Financial Results
Grupo TMM reported its financial results for the fourth quarter and 12 months of 2007.
Grupo TMM Orders Damen ASD Tug 3212
Leading Mexican maritime operator, Grupo TMM, has signed a Protocol of Delivery and Acceptance with Damen Shipyards Group for a 70 tonne bollard pull ASD Tug 3212 named TMM COLIMA. The tug will operate in the Mexican port of Manzanillo on the Pacific Coast. Ongoing port modifications and changes in port authority requirements were the driving force behind the deal. Founded in 1958, Grupo TMM has become one of the largest integrated logistics and transportation companies in Mexico.
Seacor Sells Ships, Stake in Mexican Marine Services Company
According to reports, Houston-based marine services company Seacor Holdings Inc. on Monday said it has sold five vessels and its 40 percent stake in Maritime Mexicana SA de CV to diversified transportation company Grupo TMM SA for $57 million. Seacor, which serves the offshore oil and gas industry, said the five ships are working under time-charter contracts supporting drilling activity in the Gulf of Mexico. Mexico's Grupo TMM has flagged the ships as Mexican. Maritime Mexicana provides marine services along Mexico's Gulf Coast. Shares of Seacor dropped $1 to close at $74.52, while American depositary shares of Grupo TMM fell 10 cents to close at $4.40 on the New York Stock Exchange. Source: AP
Grupo TMM Initiates Discussions with Bondholders
Grupo TMM has initiated discussions with holders of its outstanding 9½ percent Notes due 2003 and 10¼ percent Notes due 2006 (the Notes) and their representatives (the Bondholders) in order to encourage the formation by the Bondholders of an informal committee to engage the company in negotiations over the terms of a consensual restructuring of the Notes.
CP Ships Takes Delivery of TMM Colima
CP Ships Limited has taken delivery of the 3200 teu TMM Colima. It was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan. TMM Colima is the third new containership to be delivered under CP Ships' four-year $800 million ship replacement program. It was preceded by sister ship Lykes Ranger delivered in June 2002 and Contship Aurora delivered in September 2002. It is being deployed in the Asia-Americas trade lane. CP Ships is more than halfway through its overall ship replacement program. By the middle of 2003, ten new, 13 used and six long-term charters will have replaced ships on short to medium-term charter. This will increase the owned and long-term committed fleet to more than 70% of total capacity from about 30% when the program started in 2000.
Horizon Delivers Two Vessels in Three Days
Horizon Shipbuilding, Inc., Bayou La Batre, Ala., has met a major corporate milestone by delivering the M/V John Grimsley #59 on Saturday, October 10, 2009 and the M/V Isla San Luis on Tuesday, October 13, 2009. The M/V John Grimsley #59 designed by John Gilbert, is a 140-ft long by 42-ft wide, 9.2-ft draft, towboat vessel that is four-decked and is outfitted for service in areas restricted to overhead clearances and draft limitations. She is powered by two EMD 710 12 CYL engines driving 99” propellers through Nico MGN 5023Z gearboxes. There are two Cummins generators to support ship’s power.
TMM Reports Results
Jose F. Serrano, chairman and chief executive officer of Grupo TMM, said, "Despite weak global economic conditions, in the third quarter of 2008 TMM reported a revenue increase of 24.1 percent, net income of $14m and earnings per share of $.25. The Maritime division continues to produce solid results, confirming our strategy to grow revenues by acquiring vessels. With the acquisition of new vessels in 2008 and 2009, TMM will manage a significantly larger owned fleet than in the past several years. The increase in the number of owned vessels is a direct result of the completed funding of our peso denominated 20-year Trust Certificates Program, which is non-recourse to the Company, and our commitment to capitalize on the growing demands for oil distribution and exploration in .
RTM STAR Center® to Evaluate Cozumel TMM Pier
RTM STAR Center® has been awarded a contract to perform a simulator-based study by TMM (Transportacion Maritima Mexicana), in cooperation with various cruise lines to investigate access by conventionally propelled vessels, as well as AZIPOD® propelled vessels at the inside berth (eastern side of the pier). These types of vessels were chosen because they are a good representation of the ships that may utilize the docking facilities now and in the future at Cozumel. STAR Center provided a geographical model of the port of Cozumel that accurately depicted the piers, shoreline, aids to navigation, and other distinctive features to ensure a high level of fidelity during the simulation exercises.
Grupo TMM Reports 4Q, Full-Year 2005 Results
Grupo TMM, S.A. reported earnings of $0.41 per share for the fourth quarter of 2005 compared to a loss of $1.62 per share a year ago, and earnings of $3.02 per share for the full year of 2005 compared to a loss of $1.80 per share in the same period of last year. TMM reported the following results for the fourth quarter: Revenue of $88.3 million, up 30.2 percent from $67.8 million the previous year; Operating income of $2.8 million, up from an operating loss of $0.1 million a year ago; Operating margin of 3.2 percent, up 3.3 percentage points from the previous year; Net income of $23.6 million compared to a net loss after discontinuing operations of $92.3 million the previous year.
Report: Three Carriers Dominate TransAtlantic Trade
Three new carrier groups now control 58% of the total capacity in the transatlantic container trade, according to World Liner Supply, a new quarterly report from the compairdata.com on-line shipping database. The fourth quarter 2000 issue of World Liner Supply shows that the merger of services and the combination of smaller carrier groups has led to a substantially higher market concentration in the North America/northern Europe container trade. In July, the three largest groups of transatlantic carriers (Grand Alliance, Maersk Sealand and Canada Maritime/Cast/OOCL) controlled 44% of the total trade capacity. As of this month, the three biggest carrier groups (Grand Alliance/Lykes/TMM…
CP Ships to Acquire Nordana Line
CP Ships, one of the world's top ten container shipping companies, has reached agreement with Dannebrog of Denmark to acquire Caribbean/Latin American market specialist Nordana Line. The acquisition includes Nordana's business and services and its 10,000 teu container fleet. roll-on/roll-off ships owned by Dannebrog and the sub-charter of three chartered-in ships. commented Chief Executive Officer Ray Miles. Nordana operates three services with a total annual volume of about 50,000 teu. and the Mediterranean. A third service operates between the US/Central America and North Coast South America in co-operation already with the CP Ships brands, Lykes Lines and TMM Lines. CP Ships first entered Latin American markets with its 1997 acquisition of Contship Containerlines. Latin America.
Spectec Inaugurates New Office In Brazil
Following the opening of the legal entity in Brazil last year, SpecTec is happy to announce the official inauguration of its 25th office worldwide, in Rio de Janeiro that took place on 12th May. The office is located in one of the newest and most beautiful areas of Rio, Barra de Tijuca, in the Centro Empresarial Mario Henrique Simonsen, along Avenida das Americas. The inauguration event was attended by SpecTec’s excellent service suppliers in Brazil, such as the Legal offices Siqueira Castro…
LR Opens Office in Veracruz
Lloyd’s Register Central and South America Ltd., celebrated the grand opening of its new office with more than 100 clients, employees and local government officials in attendance. After 16 years in its original Veracruz location, Lloyd’s Register’s move to a new, larger facility underscores the significance of Mexico in its overall business strategy for the Americas and the importance of Veracruz for establishing a base for planned expansion into other industries throughout Mexico. Situated on the east coast of , is the oldest port in the country and the main port entrance along the coast, serving the world’s bulk carrier and container ship trade.
CP Ships Reaches Grand Alliance
CP Ships and its partners in the Grand Alliance have reached agreement with Cosco, K Line and Yang Ming to form the Atlantic Space Charter Agreement. As a result of the agreement, which is subject to regulatory review both in the U.S. and EU, one weekly string of five ships with 2,000-teu capacity will be withdrawn by Cosco, K Line and Yang Ming; the agreement is expected to be activated sometime during the second quarter. CP Ships is represented in the agreement by its Lykes Lines and TMM Lines brands. Since October 2000 it has been operating five joint weekly services in the US East Coast/Gulf-North Europe trades with the Grand Alliance.
Canada Maritime’s Pacific Gateway Service Makes Strong Start
Canada Maritime's new weekly transpacific service has started off with the first Canada Maritime Asian export containers being shipped on TMM Guadalajara from Shanghai. On arrival at the Fraser Surrey Dock within the Fraser River Port south of Vancouver later today, she will complete Canada Maritime's first ever eastbound transpacific voyage. Whilst in Fraser Surrey Dock, the 2,100 teu capacity vessel will be renamed Canmar Dynasty. Westbound sailings of Canada Maritime's Pacific Gateway Service started on May 25th when the Santa Giorgina, also 2,100 teu capacity, sailed from Fraser Surrey Dock for a June 7th arrival in Tokyo. The service also calls at, Shanghai, Qingdao and Pusan.
CP Ships Takes Delivery of Lykes Ranger
Ships Limited has taken delivery of the 3200 teu Lykes Ranger. It is the first in a series of new geared containerships being built under the company's $800 million ship replacement program and was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan. Lykes Ranger entered service on 20th June in Hong Kong to begin deployment in the Asia-Americas trade lane, where CP Ships has two twice- weekly services under the Lykes Lines and TMM Lines brands. It replaces the 3000 teu Hyundai Pioneer, which had been deployed on a short-term charter basis. With four sister ships also built by China Shipbuilding scheduled for deployment in the Asia-Americas trade lane by early 2003, customers will benefit from greater fleet uniformity and improved consistency and flexibility.
CP Ships Continues New Ship Spending Spree
CP Ships has taken the next step in its major fleet re-building program by signing a contract with China Shipbuilding Corporation of Taiwan for the construction of five geared 3,200 TEU containerships. They are designed to be employed in CP Ships' South American services. Delivery of the newbuildings will take place between mid-2002 and early 2003. The ships will measure 243 m long by 32.2 m wide, and will be equipped with 400 reefer plugs and operate at a service speed of 22.5 knots. Several containerships built by China Shipbuilding Corp already serve in the CP Ships fleet. With the China Shipbuilding contract, CP Ships has passed the half-way point in a series of retonnaging commitments…